Question: Blossom Company has these comparative balance sheet data: Additional information for 2022 : 1. Net income was $26,000. 2. Sales on account were $376,000. Sales

Blossom Company has these comparative balance sheet data: Additional information for 2022 : 1. Net income was $26,000. 2. Sales on account were $376,000. Sales returns and allowances amounted to $26. 3. Cost of goods sold was $199,000. 4. Net cash provided by operating activities was $56,000. 5. Capital expenditures were $26,000, and cash dividends paid were $12,000. 6. The bonds payable are due in 2035. Compute the following ratios at December 31,2022 . (Round current ratio to 2 decimal places, e.g. 1.83. Round accounts receivable turnover, average collection period, inventory turnover and days in inventory to 1 decimal place, e.g. 1.8. Use 365 days for calculation. Enter negative amounts using either a negative sign preceding the number e.g. 45 or parentheses e.g. (45).) (a) Current ratio. :1 (b) Accounts receivable turnover. times (c) Average collection period. days (d) Inventory turnover. times
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